Massive Top in $USDCAD, Low Risk Short Entry Here

I will quickly publish this chart to show you the long term uptrend in the $USDCAD appears to be over.

The downtrend is in play here and the risk to be wrong is very low, while the potential for gains is quite high.

The long term trendline is broken and the $USDCAD is sitting on a level where a tremendous amount of volume and time has been spent at $1.31. Risk is a move over the 1.335 level to invalidate this setup.

The opportunity is for a drop down to $1.17 where the "least amount of volume" has traded.

More details to follow.

Tim 8:28 AM EST Jan 31, 2017 1.30828 last

Komen:

Here's the Equity way to own Canadian Dollar - $FXC

Komen:
Ideal time here on this counter-trend move up to add to positions: 1.3168 last.

2/8/2017 10:32AM

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It looks like a nice move; Im in! Greta work! Liked the volume profile for the trade/ interesting!(It looks like the strong 50% retrace to 1.337 weve just seen was part of a nice weekly bearish divergence seen at the 1.358 level(which was retested to form the double top); the historic price channel looks done. Good luck!